Partnership will standardize multiplexing platform across multiple markets
BOSTON, MA & AUSTIN, TX -- January 10, 2006 -- PerkinElmer, Inc. (NYSE: PKI), a leading provider of drug discovery, life science research, and analytical solutions, and Luminex® Corporation (Nasdaq: LMNX), a leading multiplex solution developer, announced today a long-term licensing agreement to provide PerkinElmer access to Luminex’s xMAP® technology and assay development capabilities of the Luminex Bioscience Group.
Under the terms of the agreement, PerkinElmer will utilize Luminex’s xMAP technology in several areas of life science research and in vitro diagnostics. Focus areas are expected to include biomarker panels for pharmaceutical development and ADME/Tox as well as developing in vitro diagnostics in maternal, neonatal and prenatal health. PerkinElmer also plans to standardize its multiplex assay development on the Luminex xMAP platform.
Demand for multiplex testing, or performing multiple biomedical tests on a single sample, continues to accelerate for disease screening and discovery markets. To meet this need, PerkinElmer plans to offer the Luminex xMAP platform as part of its strategy to provide its customers leading products and solutions in the area of high volume disease screening.
“Providing our customers with access to a proven multiplexing solution is essential to assist their specific research and development needs and long-term growth,” said Peter Coggins, Ph.D., president of PerkinElmer Life and Analytical Sciences. “We have selected Luminex’s xMAP technology as a recognized industry benchmark in multiplexed life science research and diagnostics applications. We look forward to working closely and collaboratively to benefit our respective customers.”
Patrick Balthrop, Luminex's president and chief executive officer, commented, “This agreement with PerkinElmer is a prime example of our company’s growing emphasis on establishing long-term partnerships with market leaders in segments of strategic significance to Luminex. In this relationship with PerkinElmer we are not only providing new markets and customers with access to the Luminex xMAP technology, we are also partnering with a premier company with significant market presence. We are excited to have PerkinElmer on board and look forward to pursuing additional collaborative opportunities with them in the future.”
About Luminex
Luminex Corporation develops, manufactures and markets proprietary biological testing technologies with applications throughout the life sciences industry. The Company’s xMAP system is an open-architecture, multi-analyte technology platform that delivers fast, accurate and cost-effective bioassay results to markets as diverse as pharmaceutical drug discovery, clinical diagnostics and biomedical research, including the genomics and proteomics research markets. The Company's xMAP technology is sold worldwide and is already in use in leading research laboratories as well as major pharmaceutical, diagnostic and biotechnology companies. Luminex’s xMAP technology received the 2005 Clinical Diagnostics Technology of the Year Award from Frost & Sullivan. Further information on Luminex Corporation or xMAP can be obtained on the Internet at www.luminexcorp.com
Factors Affecting Future Luminex Performance
Statements made in this release that express Luminex's or management's intentions, plans, beliefs, expectations or predictions of future events are forward-looking statements. The words "believe," "expect," "intend," "estimate," "anticipate," "will," "could," "should" and similar expressions are intended to further identify such forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. It is important to note that the Company's actual results or performance could differ materially from those anticipated or projected in such forward-looking statements. Factors that could cause Luminex's actual results or performance to differ materially include risks and uncertainties relating to, among others, market demand and acceptance of Luminex's products, the Company's dependence on strategic partners for development, commercialization and distribution of products, fluctuations in quarterly results due to a lengthy and unpredictable sales cycle, Luminex's ability to scale manufacturing operations, potential shortages of components, competition, the timing of regulatory approvals and any modification of the Company's operating plan in response to its ongoing evaluation of its business, as well as the risks discussed under the heading "Risk Factors" in Luminex's Annual Report on Form 10-K for the year ended December 31, 2004, as filed with the Securities and Exchange Commission. The forward-looking statements contained herein represent the judgment of Luminex as of the date of this press release, and Luminex expressly disclaims any intent, obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in Luminex's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based.
Factors Affecting Future PerkinElmer Performance
This press release contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements contained in this press release that relate to prospective events or developments are deemed to be forward-looking statements. Words such as "believes," “intends,” "anticipates," "plans," "expects," “projects,” “forecasts,” "will" and similar expressions are intended to identify forward-looking statements. There are a number of important risk factors that could cause actual results or events to differ materially from those indicated by these forward-looking statements, including risks related to cyclical downturns affecting several of the industries into which we sell our products, our failure to introduce new products in a timely manner, the impact of our debt on our cash flow and investment opportunities, our ability to comply with financial covenants contained in our credit agreements and debt instruments, risks related to our international operations, our ability to adjust our operations to address unexpected changes, our ability to execute acquisitions and license technologies and successfully integrate acquired businesses and licensed technologies into our existing business, the loss of any of our licenses that may require us to stop selling products or lose competitive advantage, competition, regulatory changes, our failure to obtain and enforce intellectual property protection, our defense of third party claims of patent infringement and our ability to realize the full value of our intangible assets, as well as other factors which we describe under the caption "Forward-Looking Information and Factors Affecting Future Performance" in our most recently filed annual report on Form 10-K and in our most recently filed quarterly report on Form 10-Q. We disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.